Twenty-somethings pay £66,800 rent in a decade

Analysis of data produced by HomeLet suggests that twenty-somethings in the UK can expect to pay £66,800 in rent by the time they are 30.

The Daily Telegraph, using HomeLet data and private rental sector predictions from Savills, have come up with the figure - and with the statement that it shows twenty-somethings ”are effectively flushing a sum worth twice the average UK first-time buyer deposit down the toilet.”

The situation is of course even more dramatic in London where tenants in their twenties can easily expect to hand at least £100,000 to landlords if they are constantly renting.

The Telegraph says £66,800 is more than more than most people will ever save in their lifetimes and by contrast, the majority under 30s have never had more than £1,000 in savings to their name.

The paper says 3.3 million twenty-somethings - about 25 per cent of the total in the UK - now live under their parents’ roofs according to official figures, with the proportion due to rise by 2020, according to the Joseph Rowntree Foundation.